https://www.taxtmi.com/caselaws?id=427193 The Tribunal dismissed the petition under Section 7 of the Insolvency and Bankruptcy Code, as it found the default by the Corporate Debtor was not established, and the application was barred by limitation. The claims of Financial Creditors not party to the Memorandum of Understanding were deemed untenable, and the validity of the dishonored cheques was to be determined in separate proceedings. The Financial Creditors were permitted to seek alternative legal recourse, with the order issued on 31st August 2022. en-us Wed, 31 Aug 2022 00:00:00 +0530 Sat, 03 Sep 2022 08:05:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427193 The Tribunal dismissed the petition under Section 7 of the Insolvency and Bankruptcy Code, as it found the default by the Corporate Debtor was not established, and the application was barred by limitation. The claims of Financial Creditors not party to the Memorandum of Understanding were deemed untenable, and the validity of the dishonored cheques was to be determined in separate proceedings. The Financial Creditors were permitted to seek alternative legal recourse, with the order issued on 31st August 2022. Case-Laws Insolvency and Bankruptcy Wed, 31 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427193